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Rabobank's 2023-24 Australian Winter Crop Forecast puts the winter crop at 48.72 million tonnes, down 24% from last season's record. Wheat is expected to fall to 26.9 million tonnes, and dry conditions are pushing local wheat and barley prices to a positive basis over global levels.
A 24% production decline tightens Australian supplies and lifts local grain and canola prices, supporting export demand from feed importers.
poultrynews.com.auCh00kyNov 6, 2023After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
